Happy Customers

"I had been caring for my Mother for a number of years and the thought of selling my property using an Estate Agent was a hassle that I did not feel able to cope with."

Mrs J, Lydney, Gloucestershire

"We were really pleased with the service we received and it did exactly as it said on the tin. Dad is now out of hospital and has cash in the bank, which has meant he can see his Grandchildren enjoy their inheritance."

Mr B, Burnley, Lancashire

Could Brexit lead to falling house prices?

In the face of a potential exit from the EU, estate agents believe that if ‘leave’ campaigners get their way, almost £26.5bn could be wiped off the UK property market by 2018.
For many, the forthcoming vote on June 23rd regarding the UK’s possible exit from the European Union is an issue of immigration control and a freedom from the continent-wide rules laid out by Brussels. For UK homeowners however, estate agents are claiming that there may be a negative impact that many have not yet considered.

With a focus on the capital where 17% of all properties were bought by EU nationals of non-British birth, the lowered competition could force the average London homeowner to lose as much as £7,500 by 2018. Outside of London, the figure could rise as high as £2,300.

The move could also spell doom for many landlords, with the majority of EU nationals residing in the UK renting as opposed to buying a home – and the resulting lack of demand could force many landlords to sell up, further flooding the market with more properties.

 

Whilst this paints an optimistic picture for first-time buyers, those looking to sell in the next five years are facing a potential loss of value on their homes. While many ‘leave’ campaigners believe that house prices will recover within five years of the potential Brexit in 2018, estate agents and UK property selling experts are worried that the damage will have already been done.

Furthermore, many industry sources are also concerned about the UK’s reliance on foreign workers in the construction industry where as much as 5% of the workforce originate from other EU countries.

“An out vote could mean that in 10 years’ time we’d find ourselves with a severe skills shortage of construction workers,” said Mark Hayward, NAEA’s managing director.

“So even if we then had planning permission, investment and materials to build more housing, we simply wouldn’t have the resources to put the bricks and mortar together. It has the potential to have a very damaging effect on the future housing market.”

With the uncertainty regarding the Brexit vote already affecting commercial property sales, it is clear that vendors hoping for a fast house sale in the next three years could also be affected. If they are in a rush to sell, there are property buying companies who are willing to buy any home for cash regardless of location or condition, with competitive prices and excellent customer service.

Need to sell fast? Why not ask National Homebuyers for advice, as we buy any house. Call 08000 443 911 or request a call back to find out how much you could get for your property.

 

To read our press release relating to Brexit click here – National Homebuyers considers homeowners’ EU concerns

 

How to sell your house in winter?
What Does a Recession Mean for House Prices?